a) Differentiate between an open system and closed system of input output analysis (4 marks) b)...

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a) Differentiate between an open system and closed system of input output analysis (4 marks) b) The following table gives the Input-output coefficient for three sector economy consisting of Agriculture, Industry and Service Input-Output Coefficients From Agriculture Industry Service Agriculture 0.3 0.4 0.2 Industry 0.2 0.0 0.5 Service 0.1 0.3 0.1 The projected forecast demand for the three sectors agriculture, Industry and Service are 100, 40 and 50 Million shillings respectively (The coefficients matrix is given in terms of money). Determine the gross output of the three sectors that will meet this demand? a) Differentiate between an open system and closed system of input output analysis (4 marks) b) The following table gives the Input-output coefficient for three sector economy consisting of Agriculture, Industry and Service Input-Output Coefficients From Agriculture Industry Service Agriculture 0.3 0.4 0.2 Industry 0.2 0.0 0.5 Service 0.1 0.3 0.1 The projected forecast demand for the three sectors agriculture, Industry and Service are 100, 40 and 50 Million shillings respectively (The coefficients matrix is given in terms of money). Determine the gross output of the three sectors that will meet this demand?

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The gross output of the Agriculture sector is 250 million shillings the Industry sector is 120 milli... View the full answer